Ledn sells $188 million worth of bitcoin-backed bonds: Bloomberg
The Block
Ledn successfully sold $188 million in securitized bonds collateralized by bitcoin, according to a Bloomberg report.Summary
Ledn has sold $188 million in bonds secured by bitcoin, as reported by Bloomberg on Wednesday. The deal consisted of two bonds, with an investment-grade portion priced at 335 basis points over the benchmark rate. These new bonds are secured by 4,078.87 bitcoin, valued at approximately $356.9 million. S&P Global assigned a BBB- rating to the majority of these bonds in a February 9 report. Jefferies Financial Group acted as the structuring agent and bookrunner for the transaction. Ledn, a platform that allows users to borrow against their bitcoin, previously received an investment from Tether in November amid growing demand for bitcoin-backed credit.
(Source：The Block)